In a sign of Wall Street’s resurgent influence, bank lobbyists are aiding lawmakers in preparing legislation that softens regulations of the financial industry.» Read More
Four months after Mr. Obama won a second term, the only issue that truly unites Republicans is a commitment to shrinking the federal government through spending cuts, low taxes and less regulation. The NYT reports.
President Barack Obama raised the issue of cutting entitlements as a way out of damaging budget cuts, as both sides in Washington tried to limit a fiscal crisis that may soon hit America.
President Obama has selected air quality expert Gina McCarthy to lead the EPA and physicist Ernest Moniz to head the Department of Energy, a White House official said.
President Obama will meet Friday with the top leaders in the House and Senate, hours past the deadline for averting automatic budget cuts, to discuss how to proceed on divisive tax-and-spend issues.
Just hours after across-the-board spending cuts officially took effect, Barack Obama pressed Congress to work with him on a compromise to halt a fiscal crisis he said was starting to "inflict pain" on communities.
It's on: President Obama on Friday signed an order that starts putting into effect across-the-board budget cuts known as the "sequester" after he and congressional leaders failed to find an alternative budget plan.
President Obama blamed Republicans' refusal to close `wasteful' loopholes for the automatic budget cuts going into effect Friday, and said Americans will get through the crisis.
Michigan officially declared Detroit in a fiscal emergency, setting the stage for a state takeover of the city's financial management and ultimately the possibility of the largest municipal bankruptcy in U.S. history.
Sequestration will probably not as painful as the Administration is making them out to be, but not as painless as many conservatives are suggesting.
While politicians in Washington fan the flames of economic doom from Friday's sequester, they've apparently failed to light a fire under many Americans. Here's why.
Fed Chairman Ben Bernanke is expected to provide soothing words about the Fed's easy money policies, but markets may react more to new bearish concerns out of Europe.
House Budget Chairman Paul Ryan told CNBC that he expects the across-the-board spending cuts known as the "sequester" take effect after Friday's deadline.
The Senate confirmed Jack Lew as President Barack Obama's new Treasury secretary, putting the former White House chief of staff in the middle of a bitter political fight over the government's budget.
On paper, the spending cuts, due to kick in on Friday, promise $85 billion in budget savings. In reality, the "sequester" is likely to yield less than half that much.
Unemployment probably won't reach the 6 percent level until 2016, Federal Reserve Chairman Ben Bernanke told Congress on Wednesday.
The White House mistakenly thought that Republicans could never stomach cuts to the Defense Department, which constitute half of the reductions in the sequester. This was a terrible misreading of the Tea Party-infused GOP, the Fiscal Times reports.
The rhetoric has been flying on automatic spending cuts but now America has spoken: 52 percent say the sequester is a "bad idea," the latest NBC/WSJ poll shows.
Hundreds of thousands of workers at firms with government contracts are expected to be laid off because of sequestration. But picking who stays and who goes could be complicated and costly.
President Obama approaches Friday's budget deadline with a far stronger reputation than Republicans, an NBC News-Wall Street Journal poll has found.
Federal Reserve Chairman Ben Bernanke strongly defended the U.S. central bank's bond-buying stimulus before Congress on Tuesday, saying that the bank sees little risk of higher inflation in the near term.